Solution:
1 - If the PowerChute Business Edition Agent/Server service has a status of 'Starting' the following step needs to be carried out in order to prevent the service from failing to restart:
a. Right click on the service, select Properties and set the startup type to Disabled and click OK. At this point the status of the service should be ‘no status’ or blank.
b. Right-click on the service, select Properties and set the startup type to Automatic and click OK.

2 - Uninstall the system JRE.

3 - Download the latest version of the JRE.
You may get the following message "This software has already been installed on your computer. Would you like to reinstall it?", click OK to reinstall.

4 - Download the latest version (v1.0.0.11) of the Java JRE Config Tool from http://www.apc.com/tools/download/index.cfm; select "Software Upgrades - PowerChute Business Edition" in the dropdown box and click 'Submit'.

5 - Verify that you are using the latest version by right-clicking on the tool, select ‘Properties and Details’. The Product version should be 1.0.0.11.

6 - Run JRE Config Tool 1.0.0.11 and switch to the latest version of the Java JRE you just installed.

7 - Verify that the PowerChute Business Edition Agent/Server Services have started properly:
a. Open Control Panel Administrative Tools Services.
b. PowerChute Business Edition Agent / Server services should have a status of ‘Started’.